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QNB’s Sustainability Framework and Strategy

 

 

QNB’s sustainability framework summarises what sustainability means for QNB by identifying the key areas that need to be addressed and balanced to drive the creation of shared value for all of QNB’s stakeholders now and in the long-term. The framework captures all of QNB’s material issues and forms the foundation for the bank’s sustainability strategy, which is also aligned with QNB Group’s 2020 Strategy.

QNB’s Sustainability Framework consists of two overarching pillars to distinguish between our direct ESG impacts of our operations and the indirect ESG impacts through our financing activities;

  • Sustainable Operations: this refers to the management of our direct Environmental, Social and Governance (ESG) impacts to ensure we operate ethically and efficiently. Our approach to improving QNB’s direct impacts is to measure, manage and report performance in alignment with the criteria set by the Qatar Stock Exchange ‘Guidance on ESG reporting’, which is assessed and scored by external sustainability indices and ratings agencies.

  • Sustainable Finance: this refers to the integration of ESG criteria into QNB’s lending, products and services, to reduce reputational risks in our portfolio and maximize opportunities from increased investor and customer interest for products and services that deliver profit with purpose. Integrating sustainability into our core business divisions is one of the most significant ways in which we can support sustainable development. In addition to directing capital towards activities that help protect the environment while promoting socioeconomic development, we seek to support SMEs and entrepreneurship to drive economic growth and diversification in the markets in which we operate and build our own customer base.

 
 

  

 

 

Engaging our stakeholders

QNB’s approach to stakeholder mapping is a collaborative process of research, debate, and discussion that draws from multiple perspectives to determine a key list of stakeholders.

 

We have undertaken consultation with our key stakeholder groups – our customers, investors, employees, regulators and government, society and suppliers – taking into account their concerns and priorities. This has helped us identify the most material issues that we believe have the biggest impact on us as a bank and on our group of stakeholders. Through this framework, we have developed our sustainability strategy with careful consideration for the needs and expectations of our key stakeholder groups

 

 

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Materiality – measuring what matters

By identifying and prioritizing the most material sustainability issues, we achieve a better understanding of the full range of value created by our business for society. This, in turn, allows the Bank to be able to improve its operations – and to communicate those improvements – to create high-potential medium- and long-term value-for-money opportunities.

 

In line with the materiality assessment process set forth by the GRI G4 Sustainability Reporting Guidelines, QNB Group has compiled a comprehensive list of relevant sustainability issues based on a detailed review of national and international sustainable development initiatives, guidelines and standards.

We have aligned our sustainability goals with the objectives of the Qatar National Vision 2030 (QNV2030), United Nations Sustainable Development Goals (UN SDGs) and the Qatar Stock Exchange ESG guidance.

Our senior management team conducted a final review of the Group’s materiality matrix to ensure that the range of issues included provides a complete representation of the organization’s significant sustainability impacts.

The materiality analysis prioritizes the material aspects that reflect QNB’s significant economic, environmental and social impacts and substantively influence the assessments and decisions of stakeholders. In total,

 

 

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